When it comes to opening a bank account, students
look for low fees, account flexibility, and affordability. Despite the many
options available, not all student bank accounts cover these basics.
As a student, your best bet is to choose a
checking account or a savings account. These accounts can help you increase
your bankroll and minimize transfer fees. We’ve compiled a list of the best
bank accounts for US students to help
you make the right decision.
Checking accounts – Chase
Chase College checking accounts are available to
students ages 17-24. When you register
an account at Chase you can claim a bonus of $100. This free checking account
is interest-free and requires no minimum balance. You pay no management fees and can check the
status of your account remotely. You can
use the bank’s ATMs for free.
Checking accounts – USAA
USAA college checking accounts are available to
military students or students with a parent who
served in the military. By opening an account with USAA, you can enjoy
various rewards. You pay no maintenance
fees and do not have to cover a minimum balance. You can pay online or check your balance online.
Checking accounts – Bank of America
The core checking account offered by Bank of
America is available to students ages 24 and older. The bank does not charge a
monthly account maintenance fee and does not require a minimum balance. To
avoid overdraft fees like $35 for each item over $1, you should always have
money in your account. If you use a non-Bank of America ATM, you will be
charged a fee of approximately $2.50.
Checking accounts – US Bank
Current account for US students The bank is very
flexible and offers various advantages to new customers. The bank does not
charge an account maintenance fee and there are no minimum deposit
requirements. However, you have to pay an account opening fee.You can verify your account via online
banking and make payments online.
Savings Accounts – Synchrony Bank
Synchrony Bank offers students a high-yield
savings account with an interest rate of over 2%. Opening an account is
free and you do not have to make a
minimum deposit. Also, no minimum
balance is required. You can make payments online and withdraw money from ATMs, online or over
Savings Accounts – Capital One 360
The Savings 360
account offered by Capital One offers a variety of online services and
tools to help you achieve your savings goal. Enjoy 1% interest and no maintenance fees. My Bank Savings Goals Tool helps you keep
track of your account and allows you to open multiple accounts for specific
Savings Accounts – Ally Savings Account
The Ally Bank online savings account has no
minimum balance requirements and no maintenance fees. You can open an account
online and benefit from a high interest rate of 1.90% compounded daily. You can also easily make transfers and payments online.